# Oil Market Report - March 2022 - IEA

> The IEA cut its 2022 world oil demand forecast by 1.3 mb/d for 2Q-4Q22 due to sanctions on Russia and surging commodity prices. It warned that about 3 mb/d of Russian output could be shut in from April, and that only Saudi Arabia and the UAE hold substantial spare capacity.

- Date: 2022-03-14 · published 2022-03-14T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/5992-oil-market-report-march-2022-iea
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A potential loss of 3 mb/d of Russian supply is a major supply shock that supports crude and energy costs, raising input costs for feed production and freight.

## Read by commodity

- WTI: bullish ▲
- CORN: bullish ▲
- BRENT: bullish ▲
- WHEAT: bullish ▲
- BARLEY: bullish ▲
- DIESEL: bullish ▲
- NATGAS: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2022-03-21 | 5 | +26.2% | 4.7 | IEA warning that about 3 mb/d of Russian output could be shut in from April raised supply risk and supported distillate prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-08-16 | [Market Report - 16 August 2021 \| AHDB](https://feedsoft.ai/events/45621-market-report-16-august-2021-ahdb.md) | +1.1% | +2.8% |
| WHEAT | 2021-11-29 | [Market Report - 29 November 2021 \| AHDB](https://feedsoft.ai/events/12236-market-report-29-november-2021-ahdb.md) | -1.1% | -3.5% |
| WHEAT | 2025-08-05 | [Grains Report 08/05/2025 - Market InsightsMarket Insights](https://feedsoft.ai/events/23372-grains-report-08-05-2025-market-insightsmarket-insights.md) | -0.8% | +0.7% |
| WHEAT | 2020-03-23 | [COCERAL cuts 2020 EU grain estimate market report](https://feedsoft.ai/events/54066-coceral-cuts-2020-eu-grain-estimate-market-report.md) | -6.6% | -4.4% |
| WHEAT | 2020-08-26 | [Coceral cuts EU grain harvest 2020 again market report](https://feedsoft.ai/events/51572-coceral-cuts-eu-grain-harvest-2020-again-market-report.md) | -1.7% | +7.4% |
| CORN | 2021-08-16 | [Market Report - 16 August 2021 \| AHDB](https://feedsoft.ai/events/45621-market-report-16-august-2021-ahdb.md) | -3.1% | -8.4% |
| CORN | 2025-01-24 | [Grains Report 01/24/2025 - Market InsightsMarket Insights](https://feedsoft.ai/events/6893-grains-report-01-24-2025-market-insightsmarket-insights.md) | -0.2% | +3.3% |
| CORN | 2024-03-28 | [Grains Report 03/28/2024 - Market InsightsMarket Insights](https://feedsoft.ai/events/31242-grains-report-03-28-2024-market-insightsmarket-insights.md) | -2.0% | -3.8% |

## Sources

- ahdb.org.uk: https://ahdb.org.uk/news/market-report-14-march-2022
- iea.org: https://www.iea.org/reports/oil-market-report-march-2022

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.